The Tennessee Education Lottery recently issued a Request for Proposal (RFP), due September 26, for a company to vet potential sports betting operators. The company selected will help the lottery “assess the financial stability” of any company that bids for and potentially applies for a sports betting license. The RFP does not indicate when a vendor will be selected.
The only gambling currently available in Tennessee is the lottery. In April the legislature passed a measure allowing mobile-only sports betting; Governor Bill Lee didn’t sign it nor did he veto it, so it became law on July 1, making Tennessee the only state in the U.S. to legalize mobile-only sports wagering. However, it’s unlikely to be available until the second half of 2020 or later.
The state also recently filled a five-person commission to “enforce and supervise” sports betting.
Tennessee’s sports betting law calls for a 20 percent tax rate on adjusted sports betting gross revenue. It’s the first state in the U.S. to mandate using official league data; Illinois became the second this summer. The law allows betting on professional and college sports but prohibits in-play prop bets on college sports. Bettors must be 21 years or older.
